HO CHI MINH CITY, VIET NAM -� Media OutReach -�26 October 2020 -��Masan
High-Tech Materials Corporation�("MHT" or the "Company") signed definitive agreements to establish a strategic
alliance in the tungsten industry with Mitsubishi Materials Corporation ("MMC")
with the objective of developing a leading, high-tech tungsten materials
platform.

Modern
plant line of Masan High-Tech Materials in Vietnam

As
part of the strategic alliance, MMC will buy 109,915,542 newly issued ordinary
shares via a private placement for a total cash consideration equivalent to
US$90 million.

MHT's chemical processing plant at Nui Phao
polymetallic mineral mine

On
completion of the transaction, MMC will own 10 per cent of the share capital of
the Company and become the second largest shareholder.

After
the transaction is completed, the parties will discuss developing a separate
business unit to strengthen and unlock the synergies between their respective
mid-stream tungsten platforms.

The
ability to offer cutting edge solutions to customers and the strategic
flexibility of being integrated across the value chain is a critical factor in
delivering sustainable growth, and will continue to be a critical factor in the
tungsten space.

MHT
prides itself on delivering constantly improving and innovative product
offerings. MHT is one of the only tungsten platforms that benefits from
consistent supply of primary (concentrates) and secondary raw (recycled)
materials that are then further processed into the finest quality oxides,
powders, carbides, and chemicals. The success of MHT is underpinned by a
combination world-class research and development with dedicated applications
engineers who have a track record of delivering fine-tuned specifications to
meet end customers' evolving demands.

Post the H.C Starck (HCS) acquisition, a leading
global mid-stream tungsten business, in June this year, MMC's participation as a strategic partner is
a validation of management's transformation
into a vertically integrated high-tech tungsten platform. MMC will add
significant value as a strategic partner, and through the partnership the
parties will be positioned to develop cutting-edge solutions for end customers
that will accelerate growth, including:

1.����
Establishing
opportunities for joint collaboration and investment in revolutionary research
and development of key technologies to enhance the parties' respective
high-tech tungsten portfolio;

2.����
Enhancing the
ability of both MMC and MHT to provide industry-leading quality and performance
in their
high-tech tungsten products going
forward; and

3.����
Strengthening the
sales network in the Asia Pacific, which will broaden the consumption of MHT's
fine powders in the region.

Craig
Bradshaw, Chief Executive Officer of MHT, said: "I am extremely proud that we are starting to realise our strategic
vision. Forging a strategic alliance with MMC will certainly accelerate our
vision to become an end-to-end global high-tech industrial materials platform. Our
customers will benefit the most as this partnership will strengthen our
capabilities to supply quality and innovative products and solutions.

"The alliance also positions MHT and
HCS to build a mid-stream tungsten Asian franchise, which is the missing piece
of our strategic puzzle. I am extremely excited and looking forward to
developing a long-term, win-win partnership with MMC."

Makoto
Shibata, Director and Chief Financial Officer of MMC, said: "We have set the tungsten business including
the cemented carbide tool business to be one of the major pillars of our growth
strategy. I am excited
about the new collaboration which our investment in MHT will create and it will
have a significant impact on our future."

Credit
Suisse acted as the exclusive financial advisor to MHT.

The
closing of the strategic investment is subject inter alia to certain regulatory approvals (including governmental
approvals in Vietnam) and MHT shareholders' approval.

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ABOUT
MASAN HIGH-TECH MATERIALS CORPORATION

Masan
High-Tech Materials (MHT) is a subsidiary of Masan Group. The company, a
leading supplier of critical minerals including tungsten, fluorspar and
bismuth, is currently operating a world-class polymetallic mineral resource and
chemical processing plant in northern Vietnam. Masan High-Tech Materials is also
a leading international supplier of refractory technology metals to growth
industrial sectors such as electronics, chemicals, automotive, medical
technology, aviation and aerospace, energy and environmental technology from its own production locations in
Europe, America and Asia. Masan High-Tech Materials' vision is to show the
world that a Vietnamese company can lead the transformation of the global
tungsten market.

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ABOUT
MITSUBISHI MATERIALS CORPORATION

Mitsubishi
Materials Group is an "integrated materials manufacturer." Mitsubishi Materials
Group meets customers' needs by providing such basic materials as copper
and cement. Mitsubishi Materials Group also manufactures and sells mechanical
parts, electronic materials and components used in automobiles, home appliances
etc., as well as the tools used to make them. Mitsubishi Materials Group is
also involved in recycling and the energy business.

Mitsubishi
Materials Group, under the corporate philosophy of "For People, Society
and the Earth," pursues the vision of "We will become the leading
business group committed to creating a sustainable world through materials
innovation, with the use of our unique and distinctive technologies, for
People, Society and the Earth." Going forward, Mitsubishi Materials Group
will continue to build a richer society by making unique materials that meet
customers' needs and providing processing solutions best suited to each
customer.

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Forward-looking
statements

This press release contains
forward-looking statements regarding Masan High-Tech Materials' expectations,
intentions or strategies that may involve risks and uncertainties. These
forward-looking statements, including Masan High-Tech Materials' expectations,
involve known and unknown risks, uncertainties and other factors, some of which
are beyond Masan High-Tech Materials' control, which may cause High-Tech
Materials' actual results with respect to operations, financial condition,
performance, or achievements to be materially different from those expressed or
implied by the forward-looking statements. You should not rely upon
forward-looking statements as predictions, future events or promises of future
performance.